Goldman Sachs raised its Marathon Petroleum price target to $472 from $376 on Sept. 21, kept its Buy rating and sees more than 17% upside from the current share price—above the refiner’s $428 record set earlier this month. MPC has gained over 143% in 2026.
Marathon’s second-quarter profit quadrupled to $5.14 billion. Its Refining & Marketing margin rose to $36.33 per barrel from $17.58 a year earlier, while adjusted EBITDA for the segment increased to $6.7 billion from $1.9 billion. The article says supply disruptions have tightened fuel availability, but cautions that earnings could fall sharply if refining margins normalize.
Marathon returned $2.8 billion to shareholders in the second quarter, versus $1 billion a year earlier. As of June 30, it had $6.1 billion remaining under share-repurchase authorizations and $7.8 billion in cash, with no outstanding borrowing under its $5 billion revolving credit facility.
